CO 4.0 hours Good Guys/Bad Guys - Who's Who in Mortgage Fraud - Course Syllabus


Course Syllabus:

4.0 Elective Hours

Mortgage loan fraud occurs when false statements are made to qualify for a loan. There are a number of practices contributing to loan fraud. This course will provide real estate professionals with an overview of mortgage fraud, as well as a new awareness of what to look for, and how it can be prevented.

Course Objective

Understand the components of a mortgage.

A quick review about the individuals and institutions that offer loans directly to borrowers.

Describe those actions encompassing predatory lending practices.

Learning Activity: Video

Identify the potential customers, scams and techniques of predatory lending and mortgage fraud.

Learning Activity: Video

Describe various techniques used by predatory lenders.

Elaborate on ways to protect the client/consumer from predatory lenders by identifying techniques.

Recognize how fraud groups work together to perpetrate mortgage fraud and predatory lending practices.

Describe how scammers use short sale fraud to conduct a short sale and then flip the property.

Identify ways that scammers utilize the bankruptcy provision that delays foreclosure.

Review and discuss the role of straw buyers, unrecorded second mortgages and the technique of shell corporations.

Demonstrate an ability to identify fraud schemes.

Illustrate knowledge of how dishonest appraisers and attorneys manipulate using various techniques.

Learning Activity: Video

Discuss cases focused on the operations of groups involved in fraudulent mortgage activities.

Explain how real estate agents can use the information in this course to take precautions to avoid mortgage fraud.

Recognize and describe predatory ‘rescue’ scams.

Evaluate the various avenues and possible choices available to a distressed homeowner.

Express a depth of knowledge regarding short sales and how to guide the consumer to legitimate sources of assistance.

List and discuss additional choices to assist the distressed homeowner.